Head of Fraud & Financial Crime - Clayton-le-Moors
Company Description
At Frasers Group we're rethinking retail. Through digital innovation and unique customer experiences, we're serving our consumers with the world's best sports, premium, and luxury brands globally. As a leader in the industry, we're elevating the retail experience for our consumers by providing flexible and convenient ways to pay across our collection of established brands, including Studio, Sports Direct, FLANNELS, USC, Frasers, and GAME.
Frasers Group Financial Services is the next chapter of elevation for the Frasers Group.
We fear less and do more. Our people are forward thinkers who are driven to operate outside of their comfort zone to change the future of retail, embracing challenges along the way. The potential to elevate your career is massive, and the experience is unrivalled.
Why join us?
Our purpose - we are elevating the lives of the many with access to the world's best brands and experiences.
Frasers Group Financial Services is committed to delivering a positive colleague experience, and to make the most of it, you need to immerse yourself in our principles:
* Think without limits - Think fast, think fearlessly, and take the team with you
* Own it and back yourself - Own the basics, own your role, and own the results
* Be relevant - Relevant to our people, our partners, and the planet
Job Description
Frasers Group Financial Services is a consumer credit lender operating in the UK, also conducting regulated payment services activities under our Frasers Plus credit product. As we prepare for direct authorization under the Payment Services Regulations (PSRs) 2017, we are expanding our team and recruiting a Head of Financial Crime to lead and enhance our financial crime and fraud prevention strategies.
The Head of Fraud & Financial Crime will sit in the first line and will play a critical role in establishing and overseeing financial crime prevention within FGFS, especially as we expand our credit products. The role holder will be certified under the SM&CR and will be a PSD Individual moving forward.
Key Responsibilities:
1. Leadership and Strategy:
o Lead and manage the Financial Crime team, overseeing the Strategy and Servicing sub-teams.
o Develop, implement, and oversee the performance of financial crime and fraud prevention strategies, focusing on AML & fraud typologies including credit, card, and payment fraud.
o Ensure policies and procedures are regularly updated to comply with regulatory requirements and industry best practices.
o Act as SME on AML, fraud, and financial crime, advising the wider business on relevant projects.
2. Financial Crime Prevention and Oversight:
o Embed robust AML and fraud prevention measures across all customer journeys.
o Work with the Servicing team on Customer Due Diligence checks on PEPs and sanctions.
o Oversee investigations and resolution of fraud indicators proactively and reactively.
3. Regulatory Compliance:
o Ensure compliance with MLRs, JMLSG, PSRs 2017, and other relevant frameworks.
o Develop training on financial crime/fraud prevention for staff.
o Stay updated on emerging trends and threats, especially in digital payments and card services.
4. Collaboration and Reporting:
o Report to the Credit & Operations Director and FGFS' Financial Crime & Fraud Forum.
o Work with Risk and Compliance teams to integrate controls within the broader risk management framework.
5. Team Development:
o Manage and support the Financial Crime team, ensuring skill development and effective resource allocation.
o Mentor team members and promote cross-training.
Qualifications
* Proven senior experience in financial crime or fraud prevention, ideally in credit card or payment services.
* Deep knowledge of AML, financial crime prevention, and payment fraud management.
* Understanding of MLRs, JMLSG guidelines, and PSRs 2017.
* Experience leading teams and implementing strategies in a regulated environment.
* Strong leadership, communication, and analytical skills.
* Ability to keep abreast of emerging trends and regulations.
Additional Information
Employment is subject to background checks, including criminal, financial, and reference checks. This role falls under the SMCR, requiring FCA approval prior to execution.
Our benefits include recognition schemes, performance bonuses, employee events, leadership sessions, store visits, wellbeing programs, and support from the Retail Trust.
What's next?
Applications will be reviewed by our Recruitment Team. Shortlisted candidates may undergo multiple interview stages, including behavioral and technical assessments, possibly with a presentation or task to demonstrate skills.
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